Real Industry Inc. (RELY) Downgraded by Zacks Investment Research to “Sell”
Real Industry Inc. (NASDAQ:RELY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Real Industry, Inc. is a holding company which invests in businesses primarily in the United States industrial and commercial marketplace. Real Industry Inc., formerly known as Signature Group Holdings, Inc., is based in Sherman Oaks, United States. “
Separately, B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of Real Industry in a research note on Sunday, August 14th.
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Shares of Real Industry (NASDAQ:RELY) traded down 0.8218% during trading on Tuesday, reaching $5.9011. 3,543 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $6.41 and its 200 day moving average price is $7.65. The firm’s market capitalization is $172.62 million. Real Industry has a 52 week low of $5.30 and a 52 week high of $10.80.
Real Industry (NASDAQ:RELY) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.06. Real Industry had a negative return on equity of 8.73% and a negative net margin of 1.13%. The firm earned $320.90 million during the quarter, compared to analysts’ expectations of $323.39 million. During the same quarter last year, the firm posted ($0.53) earnings per share. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. Analysts predict that Real Industry will post ($0.70) EPS for the current fiscal year.
In related news, Director Patrick Deconinck bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were bought at an average price of $7.61 per share, for a total transaction of $76,100.00. Following the completion of the acquisition, the director now directly owns 39,711 shares of the company’s stock, valued at $302,200.71. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Craig T. Bouchard sold 98,396 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $7.13, for a total value of $701,563.48. Following the completion of the transaction, the chief executive officer now owns 89,974 shares in the company, valued at approximately $641,514.62. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. acquired a new stake in shares of Real Industry during the second quarter worth approximately $1,888,000. Keane Capital Partners LLC acquired a new stake in shares of Real Industry during the first quarter worth approximately $1,137,000. Dimensional Fund Advisors LP raised its stake in shares of Real Industry by 61.2% in the second quarter. Dimensional Fund Advisors LP now owns 180,410 shares of the company’s stock worth $1,402,000 after buying an additional 68,503 shares during the period. Allianz Asset Management AG raised its stake in shares of Real Industry by 83.1% in the second quarter. Allianz Asset Management AG now owns 148,339 shares of the company’s stock worth $1,153,000 after buying an additional 67,326 shares during the period. Finally, BlackRock Fund Advisors raised its stake in shares of Real Industry by 8.5% in the second quarter. BlackRock Fund Advisors now owns 679,693 shares of the company’s stock worth $5,281,000 after buying an additional 53,109 shares during the period. Institutional investors own 57.29% of the company’s stock.
About Real Industry
Real Industry, Inc is a holding company. The Company focuses on the operations of Real Alloy Holding, Inc (Real Alloy), which is engaged in aluminum recycling. The Company’s segments include Real Alloy North America (RANA) and Real Alloy Europe (RAEU). The RANA segment includes aluminum melting, processing, recycling and alloying activities conducted in approximately 20 facilities located in the United States, Canada and Mexico.
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